The success recorded by the Micro Pension
Scheme recently launched by President Muhammadu Buhari is cheering news for
Pension Fund Administrators in Nigeria.
The PFA’s at a meeting
in Abuja explained that despite challenges, the scheme is a huge success with
28,000 enrollees within just one year of its operation. E scheme was launched
in Abuja with major stakeholders in attendance.
The pension scheme is
designed for self-employed Nigerians to become part of the National pension
scheme which will help them have a better quality of life in old age.
There are also
indications that the National Pension Commission (PENCOM) which is the
regulatory body for pension administrators in Nigeria plans to apply more
technology to the scheme.
The ongoing data
recapturing and registration is aimed at enabling transfers to the pension
account of enrollees.
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